Fidelity Management & Research Co recently announced the acquisition of new stake in Seres Therapeutics Inc (NASDAQ:MCRB). The institutional investor has increased its shareholding in the Healthcare company by 0.24% to 19.23 million shares with purchase of 45484.0 shares. This fresh investment now brings its stake to 15.00% valued currently at $29.42 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.97 million to 9.54 million shares. And BlackRock Fund Advisors has lifted its position by 5.31% or 0.36 million shares – to 7.06 million shares.
With over 6.3 million Seres Therapeutics Inc (MCRB) shares trading Tuesday and a closing price of $0.96 on the day, the dollar volume was approximately $6.05 million. The shares have shown a negative half year performance of -84.44% and its price on 12/12/23 lost nearly -3.37%. Currently, there are 125.22M common shares owned by the public and among those 97.19M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for MCRB have a consensus price objective of $9.25. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $1.25. The average price target is 89.62% above its recent price level and an upside to the estimated low will see the stock gain 23.2% over that period. But an upside of 93.6% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 175,556 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 41,807 shares.
The top 3 mutual fund holders in Seres Therapeutics Inc are Federated Hermes Kaufmann Fund, SPDR S&P Biotech ETF, and Fidelity Growth Company Fund. Federated Hermes Kaufmann Fund owns 8.76 million shares of the company’s stock, all valued at over $13.4 million. The company sold -2.31 million shares recently to bring their total holdings to about 6.83% of the shares outstanding. SPDR S&P Biotech ETF bought 48507.0 shares to see its total holdings expand to 8.11 million shares valued at over $12.42 million and representing 6.33% of the shares outstanding. Fidelity Growth Company Fund now owns shares totaling to 4.58% of the shares outstanding.
Shares of Seres Therapeutics Inc (NASDAQ: MCRB) opened at $1.03, up $0.03 from a prior closing price of $1.00. However, the script later moved the day high at 1.0500, down -3.37%. The company’s stock has a 5-day price change of -9.12% and -67.46% over the past three months. MCRB shares are trading -82.80% year to date (YTD), with the 12-month market performance down to -85.27% lower. It has a 12-month low price of $0.91 and touched a high of $6.87 over the same period. MCRB has an average intraday trading volume of 3.58 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.84%, -28.45%, and -75.38% respectively.
Institutional ownership of Seres Therapeutics Inc (NASDAQ: MCRB) shares accounts for 65.33% of the company’s 125.22M shares outstanding. Mutual fund holders own 27.12%, while other institutional holders and individual stakeholders account for 38.81% and 17.91% respectively.
It has a market capitalization of $124.52M and a beta (3y monthly) value of 2.32. The earnings-per-share (ttm) stands at -$1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.10% over the week and 13.15% over the month.
Analysts forecast that Seres Therapeutics Inc (MCRB) will achieve an EPS of -$0.49 for the current quarter, -$0.36 for the next quarter and -$1.32 for 2024. The lowest estimate earnings-per-share for the quarter is -$1 while analysts give the company a high EPS estimate of -$0.32. Comparatively, EPS for the current quarter was -$0.54 a year ago. Earnings per share for the fiscal year are expected to increase by 57.39%, and -33.94% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Seres Therapeutics Inc (MCRB) as a “Strong Buy” at a consensus score of 1.86. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the MCRB, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on June 26, 2023, with the firm’s price target at $12.
